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There are some tiny glimmers of hope that grocery costs—which are already sky-high—might come down in the near future. The BBC reports that in the United Kingdom, food prices dropped by 0.1% in September 2023 compared to August. This was the first monthly drop in over two years. And it’s all because of growing competition between supermarkets.
Obviously, easing grocery inflation is good for customers because they can pay less for food and have more money to save or for other needs. There are also indications that shop price inflation, which fell to 6.2% in September, is easing up. What this means, essentially, is that prices are growing more slowly. This might be good news in the long run, but for many consumers, prices are still exorbitant here and now.
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Meanwhile, the situation seems to be getting slightly better for consumers across the pond, in the United States, as well. Grocery prices rose just 0.2% in August, compared to July. And they rose 0.3% In July, compared to June. CNN noted that grocery prices are up 3% in 2023 compared to 2022; this is far better than a year ago, when they were 13.5% higher than in 2021.
The general trend seems to be that massive price spikes are out of the picture. Hopefully, prices and price growth will continue cooling. However, some food items got far more expensive than others. For instance, in August, bacon prices jumped a shocking 4% in the US. However, even with this increase, bacon prices in August 2023 are still 6.4% cheaper than a year ago.
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Bored Panda was very curious to learn about the inspiration behind the redditor's thread on r/Frugal. The author was happy to shed some light on this. "At that time, I was only around 2 months short of being a university student," they told us.
"Before getting thrown into adulthood head-first, I deemed it important to at least equip myself with some advice from experienced frugality-soaked people," u/jeron_gwendolen opened up that they were looking for some practical advice on saving money.
Meanwhile, we were curious to get the OP's take on saving money on groceries in these economically bizarre times. "First of all, know your town. Go for a price hunt," they advised doing some proper research.
"Visit every single store in the vicinity of your home and make a list of all the groceries you cannot live without. Write down their prices and compare them," they said.
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"It's not always the case that a store that's considered to be 'the cheapest' offers a better deal than 'the most expensive.' Also, avoid buying fruit and veggies at big stores that come in plastic bags and boxes. It's virtually always a ripoff. Get them in bulk instead," Reddit user u/jeron_gwendolen suggested what everyone should keep in mind if they want to save some money while shopping for food.
The author of the thread also shared their advice on starting to cook at home and gaining confidence in the kitchen. "Start with something simple. Fry an egg, throw in some bacon," they advised everyone who's completely new to making food at home.
"When you get bored of that, whip up something as simple as pancakes, no more than 3-5 ingredients. You'll warm into it, trust me. There's nothing rocket sciency about cooking. It doesn't require any talent, just a hungry stomach."
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Saving money comes down to reevaluating your priorities. The first step when curbing spending is to create a proper budget. Look at your income, make a list of all of your expenses (down to the tiniest details), and search for areas where you can cut back. For example, if you’re a fan of dining out, you could reduce how often you do it, choosing to cook at home instead.
The same goes for getting take-out. There are tons of free online resources and recipes that can help you cook your favorite meals at home. This means that you end up saving cash and that you can actually eat more healthily: you’re in control of what you put into the meal. Naturally, this means that you’ll have to spend more time in the kitchen. Cooking can be an incredibly fun activity, but it means that if you have no skills to speak of, you’ll have to put in the effort to develop them slowly over time.
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Other things to cut back on include red meat which is very expensive. You can find cheaper protein alternatives if money is tight. It also helps to buy food items on sale, so you can freeze them for future use.
If you cooperate with your family, friends, and neighbors, you can save even more by buying some groceries in bulk. And if you decide to start baking your own bread, then more power to you! As evidenced in this list, it’s definitely worth giving a go.
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